Rockport Wealth LLC Invests $221,000 in Phillips 66 (NYSE:PSX)

Rockport Wealth LLC acquired a new stake in Phillips 66 (NYSE:PSX) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,352 shares of the oil and gas company’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Phillips 66 by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after purchasing an additional 1,578,669 shares during the last quarter. Wellington Management Group LLP lifted its stake in Phillips 66 by 20.3% in the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after purchasing an additional 1,842,226 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Phillips 66 by 38.0% in the 1st quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock valued at $1,309,954,000 after purchasing an additional 2,209,043 shares during the last quarter. Norges Bank bought a new position in Phillips 66 in the 4th quarter valued at approximately $559,435,000. Finally, Boston Partners lifted its stake in Phillips 66 by 962.0% in the 4th quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock valued at $513,327,000 after purchasing an additional 3,494,878 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PSX shares. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Barclays decreased their price target on shares of Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Raymond James decreased their price target on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Wolfe Research initiated coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, TD Cowen decreased their price target on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, June 21st. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $158.23.

Phillips 66 Trading Down 2.2 %

Shares of PSX traded down $3.04 during trading hours on Tuesday, hitting $137.07. 1,734,938 shares of the stock were exchanged, compared to its average volume of 2,687,005. Phillips 66 has a fifty-two week low of $105.56 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The business has a 50-day moving average of $139.62 and a 200-day moving average of $145.39. The firm has a market capitalization of $58.11 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 2.30 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period in the prior year, the company earned $4.21 earnings per share. On average, research analysts expect that Phillips 66 will post 10.06 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s dividend payout ratio is presently 35.38%.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.